I have looked all over the MySQL website and found no definitive answers.
Can MySQL handle 100 million records? Yeah, it can handle billions of records. If you properly index tables, they fit in memory and your queries are written properly then it shouldn't be an issue.
MySQL was not designed for running complicated queries against massive data volumes (which requires crunching through a lot of data on a huge scale). MySQL optimizer is quite limited, executing a single query at a time using a single thread.
Table Size Limits. MyISAM tables have a default limit set to 256TB for data and index files, which you can change to 65,536TB maximum. InnoDB maximum size for tables is 256TB, which corresponds to the full tablespace size.
According to the MySQL Manual:
E.10.3. Limits on Table Size
The effective maximum table size for MySQL databases is usually determined by operating system constraints on file sizes, not by MySQL internal limits. The following table lists some examples of operating system file-size limits. This is only a rough guide and is not intended to be definitive. For the most up-to-date information, be sure to check the documentation specific to your operating system.
Operating System File-size Limit Win32 w/ FAT/FAT32 2GB/4GB Win32 w/ NTFS 2TB (possibly larger) Linux 2.2-Intel 32-bit 2GB (LFS: 4GB) Linux 2.4+ (using ext3 file system) 4TB Solaris 9/10 16TB MacOS X w/ HFS+ 2TB
Windows users, please note that FAT and VFAT (FAT32) are not considered suitable for production use with MySQL. Use NTFS instead.
On Linux 2.2, you can get MyISAM tables larger than 2GB in size by using the Large File Support (LFS) patch for the ext2 file system. Most current Linux distributions are based on kernel 2.4 or higher and include all the required LFS patches. On Linux 2.4, patches also exist for ReiserFS to get support for big files (up to 2TB). With JFS and XFS, petabyte and larger files are possible on Linux.
As for the other part of your question, a few thoughts:
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